New South Wales investors have been on red alert since the launch of Miles Residences on the Gold Coast&#39;s Kirra Beach late last year.

Miles Residences, the apartment component of the luxury $180 million redevelopment of the Kirra Beach Hotel, are offering investors strong yields in one of the most sought-after locations in the country at the moment, with many forecasting the demand to continue for years to come.

The development of 118 apartments, which will sit above the new pub pavilion, is being developed by the Peggy Flannery-led KTQ Group, who are behind the award-winning Elements of Byron.

The affordable entry point has Sydneysiders considering an investment bolthole intrastate, with the option of taking a holiday or moving to the area permanently upon retirement.

[smartcode_project:default project_id=27575]

KTQ have calculated solid net rental yields for investors based on a 75 per cent occupancy rate, which doesn&#39;t account for higher demand and peak rates over summer, school holidays and in particular Christmas.

The Real Estate Institute of Queensland predicts the relaxation of border restrictions will make it even harder to find a rental property on the Gold Coast. In November, the vacancy rate was 1.6 percent. Vacancy rates are predicted to remain as tight in 2021.

And Mark Smith from PRDnationwide Burleigh Heads, reckons the Gold Coast is very attractive, especially for investors.

&quot;Even with our market gaining and theirs falling, we still have a long way to go before we reach the level of unaffordability experienced in Sydney and Melbourne.&rdquo;

<h2>Sea Apartments</h2>

The Sea Apartment collection of Miles Residences, facing the beach, start from $545,000, considerably below Sydney&#39;s median apartment price of $755,360.

The one bedroom Sea Apartment, with an occupancy rate of just under 75 per cent for a calendar year, will offer investor owners a return of 6.7 per cent.

Based on an average daily rate of $220, the 82 sqm apartment will yield $1,157 a week and over $60,000 a year.

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/miles_kirra_views_1.jpg" width="1200" /></a>

After the property management fees such as body corp, letting management fees and council rates, investors are likely to secure a net return of five per cent, just under $30,000.

There&#39;s the same net return on offer for a two bedroom Sea Apartment, which would warrant a $275 daily rate, $1,447 a week and over $75,000 a year.

With the same occupancy rate of 75 per cent, an investor would see a net return of over $39,000, a five per cent net return.&nbsp;

The two bedroom Sea apartments, with an internal area of 91 sqm and 33 sqm external, are priced from $795,000.

<h2>Stone Apartments</h2>

The larger Stone Apartments are forecast to see a net return of four per cent if a 75 per cent occupancy is achieved.

The two bedroom apartments with multi-purpose room, priced from $1.13 million, are set to command an average daily rate of $330, which would mean $1,736 a week and over $90,000 a year.

<a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta"><img alt="" height="900" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kirra_point_miles_residences_pool_1.jpg" width="1600" /></a>

The apartments, spanning 106 sqm of internal living space and 18 sqm external area, would see a net return after fees of $50,665 per annum.

The three bedroom stone apartments with 132 sqm of internal area and 28 sqm of balconies could see investors pocket over $61,000 in net income.

Those apartments are forecast to fetch $385 a day, over $2,000 a week or $105,366 a year.

To find out more, <a href="/buildings/miles-kirra-beach-hotel-101-musgrave-street-coolangatta">click here</a>.

&nbsp;

The development of 118 apartments is being developed by the KTQ Group, who are behind the award-winning Elements of Byron.



Joel Robinson

Why New South Wales investors are eyeing Kirra’s Miles Residences

The local&nbsp;Gold Coast developer Sherpa Property Group are the latest to benefit from the continued Gold Coast apartment boom.

They&#39;ve secured a sell-out at their $35 million Palm Beach apartment development Perspective 488 within just three months of its early 2021 launch.

Buyers snapped up the seven full floor apartments, which sold for more than $3 million each, as well as the beach homes which fetched between $4.1 million and $4.5 million.

Named after its location at 488 The Esplanade, Perspective 488 was popular among local buyers looking to upgrade. Only one interstate buyer managed to grab a key.

<a href="/buildings/perspective-488"><img alt="" height="1131" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/perspective_beach_houses.jpg" width="1600" /></a>

Sherpa, led by former real estate agent Christie Leet, are now plotting a sister development on an adjacent site at Twenty Seventh Avenue, with plans expected to be released later this month.

&ldquo;We&rsquo;ve been blown away by the response to Perspective 488, which is encouraging as we prepare for our newest development,&rdquo; Leet said.

&ldquo;From the outset we took an innovative approach to the Perspective 488 site to ensure it blended perfectly with the laid-back lifestyle Palm Beach is known for. It&rsquo;s especially rewarding for the Sherpa team to know that our vision has been so warmly received by our buyers and in particular by locals.&rdquo;

About the developer

Christie Leet, formerly principal of PRD Whitsundays, is a property industry veteran, with an eye for lifestyle buyers. He timed his entry to the Gold Coast market perfectly three years ago by acquiring prime development sites at Palm Beach to Cabarita.

&ldquo;It was evident to me at the time that local buyers had an appetite for a unique style of development that combined a bespoke design with an unparalleled location &ndash; a recipe that defines the ultimate in coastal living,&rdquo; said Mr Leet.

&ldquo;We&rsquo;re pleased with the success of Perspective 488 and look forward to bringing another unique offering in this pocket of paradise.&rdquo;

Sherpa has an extensive history of successful developments in the Whitsundays and Funnel Bay apartment and land sub-division.

<h2>Other developments for sale on the Gold Coast</h2>

Shoreline, Surfers Paradise

[smartcode_project:default project_id=22057]

Shoreline is the latest Surfers Paradise tower to be created by Marquee Development Partners.

The boutique 27 apartment development across 17 levels offers residents a luxury unseen in the between Surfers Paradise and Broadbeach for a number of years.

Miles Residences, Kirra Beach

[smartcode_project:default project_id=27575]

The Miles Residences Kirra Point will be one of Kirra Point&#39;s most impressive towers when it&#39;s completed in 2023.

The development of 118 apartments is part of the redevelopment of the&nbsp;Kirra Beach&nbsp;Hotel. The brains behind the operation is the family-ran KTQ Group, led by Peggy Flannery, who are behind the award-winning Elements of Byron Bay.

Sherpa, led by former real estate agent Christie Leet, are now plotting a sister development on an adjacent site at Twenty Seventh Avenue

Sherpa sell out Palm Beach residential development Perspective 488 in three months

Demand for apartments&nbsp;is not letting up on the Sunshine Coast.

Cube Developments, led by veteran developer Scott Juniper, have secured a sell out of their $27 million apartment&nbsp;project One Prosperity in the small waterfront suburb of Birtinya, and are soon to sell all of the apartments in their boutique Mooloolaba project Picasso.

Picasso saw high demand from investors from Sydney and Melbourne, and Juniper says the trend, which he&#39;s seen across the whole of the portfolio,&nbsp;isn&#39;t slowing down.

[smartcode_project:default project_id=29372]

&quot;The demand on the Sunshine Coast has been exceptional,&quot; Juniper says.

&quot;We had a much higher increase in both investor demand and owner occupier demand from Melbourne and Sydney,&quot; Juniper says, adding that there are still high number of owner-occupiers moving from the southern states to the Sunshine Coast.

&quot;People are still not tied to the city, there&#39;s been no change to that&quot;, Juniper says.

<img alt="" height="770" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cube_2.jpg" width="2228" /> 
Cube&#39;s sell-out One Prosperity development. Image supplied 
 
Investors are still keen from Sydney and Melbourne, with the vacancy rate holding firm at record lows of around 0.5 per cent.

Cube&#39;s latest offering is Seasons by Cube, which Juniper says is a much more budget conscious apartment development in Birtinya.

The majority of stock in the development of 146 apartments is under $600,000, with it focused on bringing an affordable product to the market.

<img alt="" height="884" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/seasons_by_cube.jpg" width="1486" /> 
Seasons by Cube, designed by Cottee Parker. Image supplied

Prices start from $495,000.

Cube only have a handful of apartments left at another one of their Birtinya developments, Curve, which is set for completion in July.

&quot;There are quite a few people in the market looking to move immediately, reflected by the area&#39;s very low vacancy rate&quot;, Juniper suggests, adding that that gives Curve an advantage in the current market that the product will be available to move in in just a few months.

Cube have their&nbsp;premium product,&nbsp;Nature at Cotton Tree in Maroochydore, overlooking&nbsp;Rotary Park and the Maroochy River.

Juniper told Cottee Parker Architects to deliver&nbsp;the best the Sunshine Coast has ever seen.&nbsp;

<a href="/buildings/nature-by-cube-maroochydore"><img alt="" height="700" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nature_juniper.jpg" width="733" /></a> 
The luxury Nature development. Image supplied

&quot;Nature allowed me to do some things you couldn&#39;t do in other developments&quot;, Juniper says of the boutique 13 apartment development. The ground floor is dedicated tp communal space and facilities&nbsp;including a 25-metre lap pool, gym, steam room and sauna and&nbsp;yoga studio, as well as barbecue areas and a private dining area.

Cube are also in the planning stages of one of their best projects to date in Alexandra Headland.

Cube's latest offering is Seasons by Cube, which Juniper says is a much more budget conscious apartment development in Birtinya



Sunshine Coast apartment demand continues as Cube sell-out one development, launch another

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The respected developer DealCorp have seen a quick take up of their unique promotion of offering their apartment buyers a chance to secure a further parking spot for just $1.

It's in their contemporary McKinnon apartment development MCKN in Melbourne's Glen Eira district, south-east of the CBD.

[smartcode_project:default project_id=4939]

While marketing was underway, MCKN's project team went back to re-design some apartments in line with local demand and were able to secure additional carparking.

The two bedroom, two bathroom apartments were offered the parking spaces for $1.

<a href="/news/vic/why-families-are-snapping-up-apartments-in-mckinnons-mckn-development">Read more: Why families are snapping up apartments in McKinnon's MCKN development</a>

“Understanding buyer demand and being agile is what DealCorp prides itself on", DealCorp marketing manager Laurelle Kobritz says.

"The market surrounding McKinnon is sophisticated and aware of incentives, so we needed to offer a stand out offer buyers couldn’t refuse if they were considering MCKN."

There's now just one car park remaining from the promotion, which DealCorp expect will be snapped up before the promotion closes at the end of the month.

DealCorp have secured around 70 per cent of sales already at MCKN, the boutique apartment development of just 41 on Jasper Road.

<a href="/new-apartments/mckn-236-jasper-road-mckinnon"><img alt="" height="790" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/mckn_2_0.jpg" width="1200"></a>

Spanning five levels, MCKN has been designed by the award-winning architect RITZ&amp;GHOUGASSIAN to pay homage to the functional designs of the neighbouring architecture.

The façade is a bold, textured surface of fluted concrete panels, which guide flourishing young shoots up the building’s exterior.

It's been a hit with families or prospective families so far due to the size of each apartment and its proximity to McKinnon Secondary College, one of the state’s highest ranked schools.

Completion is slated for August 2021, with the well regarded construction firm Hamilton Marino Builders handling the build.

 
</body></html>

While marketing was underway, MCKN's project team went back to re-design some apartments in line with local demand and were able to secure additional carparking

DealCorp see success in unique $1 car space giveaway at McKinnon apartment development MCKN

The Newcastle developer GWH has seen a spike in sales of their Newcastle CBD development Sky Residences since the start of 2021.

GWH sales and marketing manager&nbsp;Matthew Waddell puts it down to an increase in investor activity in the region, which posted 3.6 per cent dwelling price growth&nbsp;in March, second only to Sydney in price growth of major regions across the country.

"For this current quarter (January to March), we have seen more sales than any period during the marketing of the project", Waddell says.

There's been a dramatic increase in enquiry from investors, more specifically from investors outside Newcastle, Waddell notes.&nbsp;

<a href="/new-apartments/sky-residences-509-hunter-street-newcastle"><img alt="" data-entity-type="" data-entity-uuid="" height="896" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sky_residence_2.jpg" width="1200" /></a>

Investors have accounted for 36 per cent of sales since the turn of the year at Sky Residences, just behind owner-occupiers who accounted for 38 per cent. And now over a third of those buying are coming from outside of Newcastle.

"Buyers are making their purchasing decision quicker as well, with a previous ratio of appointments to sales of 7:1 now shortening to 3:1", Waddell says.

[smartcode_project:default project_id=8430]

Set in the heart of the CBD's Civic precinct, Sky Residences,&nbsp;designed by DBI, homes 180 apartments, made up of one, two, three and four bedroom units.

There are 1,100 sqm of premium hotel-style amenities for residents, including a heated outdoor lap pool, gym and fitness centre and a rooftop sky lounge with 360-degree views across Newcastle. On the roof there's indoor and outdoor facilities, a landscaped lawn terrace, barbecues and dining spaces.

<a href="/new-apartments/sky-residences-509-hunter-street-newcastle"><img alt="" data-entity-type="" data-entity-uuid="" height="894" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sky_residence_3.jpg" width="1200" /></a>

Inside there's a lounge area with a fireplace and a cinema screen and bar.

Remaining one bedroom apartments start from $485,000, with the highest remaining three bedders on level 16 for sale at $1.6 million. The north-east facing penthouse sold for $3.3 million.

<h2>About the developer</h2>

GWH have been developing property in the Newcastle region&nbsp;for over 25 years, with over $1 billion of completed projects&nbsp;delivered.

Led by Jonathan Craig, GWH are behind Aero in Newcastle, which won the Master Builders Association award for&nbsp;Apartment Development of the Year in 2018, Highpoint in Charlestown and 121Elder in Lambton.

There's been a dramatic increase in enquiry from investors, more specifically from investors outside Newcastle.



Sales spike hits Newcastle's Sky Residences as investors return

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The luxury apartment sector has been the final piece to fall back in to place following the COVID-19 pandemic effect on real estate.

That's the view of Kay &amp; Burton director of special projects Damon Krongold, who said the whole luxury apartment sector shut down.

"Everything went on hold", Krongold said, particularly the downsizer demographic.

"That demographic froze in situ and it has been the last area of the property market to come back," Krongold added.

[smartcode_project:default project_id=4508]

However the market is now back, with the increased momentum for transactions in existing homes starting to filter through to the luxury apartment sector once more.

Krongold says there's been a genuine spike in recent weeks for products such as Heyington, the luxury Sterling Capital developed boutique apartment project in the heart of Toorak.

<a href="/buildings/heyington-63-heyington-place-toorak"><img alt="" height="779" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/heyington_3.jpg" width="1265"></a>

Heyington, designed by Carr Architecture in collaboration with landscape architecture firm Acre, has just 12 apartments, each having three bedrooms. Over 50 per cent of apartments have now sold in the block.

Krongold advises it's been the natural trend of those selling, with locals and the immediate surrounding areas the most keen on the project.

"They're selling out their larger homes which have high maintenance and gardens and are wanting a turn-key solution and lifestyle," Krongold says.

He suggests the pull of Heyington's location has been a drawcard, with that demographic keen on being closer to amenities such as Toorak village and near the Monash freeway to get out of town to go beachside and head down to the Peninsula.

Heyington apartments, featuring genuine stone, start from $3,295,000.

The two ground floor apartments feature large outdoor planted gardens, spanning 115 sqm and 189 sqm, larger than most gardens in metropolitan Melbourne houses.

<a href="/buildings/heyington-63-heyington-place-toorak"><img alt="" height="736" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/heyington_1.jpg" width="1200"></a>

Apartment 103 features over 240 sqm of outdoor terraces, both hard-paved and landscaped, with its own swimming pool. That's priced at $4,851,000.

Construction is slated for completion around four to six weeks sooner than expected despite the COVID-19 interruptions, with residents expected to move in in late 2021.
</body></html>

"Everything went on hold", Krongold said, particularly the downsizer demographic.

Luxury off the plan apartment demand back as Heyington Toorak secures over 50% of sales

<html><body>
Soaring home prices have put first home buyers on the back foot, with affordability now a key issue in the Australian property market.

The continued house price growth has poured cold water on first home buyers, who until the end of March had the $15,000 HomeBuilder Grant as a financial platform when buying new property.

The median sale price for a house has reached over $1.1 million in Sydney in April, followed by $806,000 in Melbourne, according to CoreLogic. Apartments approve the more attractive proposition for first home buyers, with Sydney's median at $755,360 and Melbourne's at $593,121.

The growing property prices has led to first home buyers considering buying interstate, Finder’s First Home Buyers Report 2021 has found.

Finder surveyed 1,028 first home buyers, and 20 per cent said they are searching for their first property in a different state to where they currently live. That equates to around 2,362 first home buyers a month willing to buy in another state to get on the property ladder.

<a href="/news/vic/urban-s-top-suburbs-for-vic-first-home-buyers-in-q1-2021">Read more: Urban’s top suburbs for VIC first home buyers in Q1 2021</a> 
The report found that first home buyers from New South Wales (24%) are more likely to consider buying a property in another state than those living in Queensland (19%) and Victoria (17%).  
Sarah Megginson, home loans expert at Finder, said that many prospective buyers are being lured by cheaper property across state borders.  
“Some first home buyers are looking at real estate in other parts of the country where prices are more affordable, with many feeling the pressure to buy while interest rates are low. 

<a href="/news/vic/urbans-most-popular-vic-projects-for-first-home-buyers-in-q1-2021">Read more: Urban's most popular VIC projects for first home buyers in Q1 2021</a> 
“The impact of COVID-19 has also caused a spike in demand for regional properties, as residents in Sydney and Melbourne consider swapping city living for more of a laidback lifestyle.  
“With property prices soaring in recent months, it can put additional pressure on first home buyers, who may find themselves priced out of their own city. 

[smartcode_project:default project_id=5559]

“This is where an interstate move can work to your advantage as a prospective buyer.  
“Even if you’re not keen to move, a rentvesting strategy – where you buy a more affordable home in a different location and continue renting where you want to live – offers a way to get your foot on the property ladder,” Megginson said.  

<a href="/news/qld/find-out-where-in-south-east-queensland-you-can-buy-a-townhome-from-230-000">Read more: our homes to secure in Queensland’s City of Logan from $230,000</a> 
Finder’s First Home Buyers Report 2021 also found that men (24%) are more likely than women (17%) to be considering an interstate move to get into the property market.
</body></html>

The growing property prices has led to first home buyers considering buying interstate, Finder’s First Home Buyers Report 2021 has found

One in five first home buyers open to buying in a different state

Sales have launched at Grand Reve, the anticipated project in Sydney&#39;s Castle Hill.

The 196 apartment project by Kassis Homes has been in the pipeline for about seven years.

Around 200 people attended the ribbon cutting at the weekend, with the Hills Shire Council Mayor Dr Michelle Byre holding the scissors.

John McGrath, who founded McGrath back in the late 1980s, was in attendance at the event which was picked up by&nbsp;Channel Seven News.

[smartcode_project:default project_id=94147]

Within seven or eight minutes of the news airing, McGrath&#39;s associate director Adam Sparkes said the new website registrations were in the double digits.

Sparkes says there&#39;s been significant interest from local downsizers from the neighbouring suburbs of Cherrybrook and West Pennant Hills, who are looking at selling their own home within the next 12 to 18 months in time for Grand Reve&#39;s completion.

[smartcode_project:default project_id=94147 project_image_fid=196705]

There&#39;s also been upgrading young professionals, investors, and first home buyers who have already secured an apartment. One investor bought one of the three bedroom apartments as an investment, having had his own home built over a decade ago by&nbsp;Kassis Homes.

Sparkes sees investors taking a renewed interest in recent months, with the benefits of cash in bricks and mortar far outweighing cash in the bank given the expectancy interest rates will stay low for quite some time.

Entry level at Grand Reve starts at $560,000 for the three studios, each offering 40 sqm of internal space which is doubled by the walk-up garden and courtyard externally. There are around 30 different floor plates in total.

The one bedrooms range from 50 sqm to 64 sqm internally and start from $655,000.

The standard two bedroom apartments range between $835,000 to $975,000, with the larger two bedders which include a study across its 110 sqm of internal space, are priced from $1,145,000 to $1,295,000.&nbsp;

[smartcode_project:default project_id=94147 project_image_fid=196711]

One of the bigger three bedroom apartments has already been snapped up for $1,695,000 by a downsizing couple who have lived in the area for decades. The three bedroom apartment features 136 sqm of internal space and 90 sqm of terraces.

McGrath founder John McGrath says Grand Reve&nbsp;is one of the most special projects McGrath ever had the pleasure and honour of being involved in.

&quot;I think firstly when you think of the location, I think Castle Hill is the address to be living in on east coast Australia right now&quot;, McGrath added.

Turner Studio&nbsp;designed Grand Reve in collaboration with Arcadia Landscape Designs.

&quot;We&#39;re really urbanising the concept of the backyard and integrating that in to an urban housing scheme that sits in a suburban context and therefore i think we&#39;re going to end up with a unique project and a unique product,&quot; Turner designed director Nick Turner says.

[smartcode_project_cta: project_id=94147]

The 196 apartment project by Kassis Homes has been in the pipeline for about seven years

Kassis Homes launch latest apartment development Grand Reve in Sydney's Castle Hill

Buyers have moved in to the first stage of East End, Newcastle&#39;s newest apartment development, with stage two sales well underway.

The recently completed stage one of the Sam Arnaout-led Iris Capital&nbsp;development in the heart of Newcastle on Hunter Street comprises three buildings, Fabric House, Perkins &amp; King and Washington House.

Each building has been created by a different architect.

The most striking is Washington House,&nbsp;where architecture firm TZG had to incorporate the historic Washington House in to their design which retained the front facade.

<a href="/new-apartments/east-end-stage-2-newcastle-147-hunter-street-newcastle"><img alt="" height="837" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/washington_house_1.jpg" width="1600" /></a> 
Washington House, built in the early 1900&#39;s.

Washington House was once the Charleston Studios, operated by the photographer Harry &#39;Henry&#39; Charleston in the 1930s, before being completely remodelled&nbsp;by Washington Handley Soul, of the investment firm now known as Washington H Soul Pattinson.

Washington House features an outdoor landscaped terrace on level three, complete with a private garden, barbecues and outdoor dining.

Durbach Block Jaggers created Fabric House with curved glass and the arched windows, while SJB designed Perkins &amp; King.

Interior design firm Turners handled the interiors.

Around 90 per cent of stage one has sold, with just the nine apartments remaining. Around 50 per cent have sold to owner-occupiers.

Stage two, which comprises Soul and Lyrique, both designed by&nbsp;CKDS Architecture, is around 50 per cent sold.

<a href="/new-apartments/east-end-stage-2-newcastle-147-hunter-street-newcastle"><img alt="" height="1044" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/east_end_newcastle_2.jpg" width="1400" /></a> 
The rear of Lyrique

PRDnationwide agent Ryan Houston says they are seeing a lot of local downsizers and young professionals who no longer want to mow the lawns.

&quot;They want to live the inner city lifestyle,&quot; Houston says, adding that there are out of town buyers&nbsp;from&nbsp;Sydney, as well as areas around Mudgee, Armidale and Dubbo looking for a weekend or even a sea change.

&quot;We are seeing a lot of interest recently in apartments as the market are seeing apartments as the futures of real estate and betting on the fact the market will continue to rise.

&quot;Best thing is that they can lock in a price today at todays prices for only a 10% deposit.&quot;

About the developer

Arnaout&#39;s Iris Capital are behind the likes of the residential developments Omnia in Potts Point, Grand Bondi Junction and Wattle Hill at Hurlstone Park.

Iris Capital also owns a number of hospital venues&nbsp;including the Manly&#39;s Hotel Steyne and Ivanhoe Hotel. Iris has&nbsp;prominent around the Kings Cross area for a number of years where they own&nbsp;the Bourbon.

On the East End project, Arnaout says &quot;This is something that we won&rsquo;t be able to replicate anywhere else and it&rsquo;s something we&rsquo;re proud to be delivering for the people of Newcastle.&quot;

<h2>Recently listed properties:</h2>

[smartcode_project:default project_id=29359]

[smartcode_project:default project_id=29679]

[smartcode_project:default project_id=21618]

&nbsp;

Each building has been created by a different architect

East End Newcastle approach first stage sell out with stage two construction soon to commence

Brooke Residences, the final tower in the four tower residential development Cambridge Residences in the Gold Coast&#39;s Robina, have clocked up 50 per cent of sales.

Construction recently commenced&nbsp;on Brooke Residences, the last tower in the development by the China-backed SPG Land Australia, who are developing the project in partnership with&nbsp;Eastview Australia.

TVS Architects have designed the 95 apartment building, which homes a collection of one, two and three bedroom apartments, as well as a communal rooftop swimming pool.

[smartcode_project:default project_id=6746]

Investor buyers&nbsp;have benefited from strong rental returns at the already constructed apartments in Cambridge Residences, with one bedroom apartments renting for up to $425 a week and two bedders up to $520.

One bedroom apartments in Brooke Residences are priced from $370,000, two beds from $465,000 and three bedrooms from $720,000.

<a href="/buildings/brooke-residences-42-laver-drive-robina"><img alt="" height="1180" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/brooke_2.jpg" width="1600" /></a>

Colliers agent Courtney Simmons says there&#39;s been a mix of buyers across Cambridge Residences.

&ldquo;Buyers have predominantly been local first home buyers, with some downsizers hoping to stay in the Robina area,&rdquo; Simmons says. 
 
&ldquo;We have also had a lot of interest from interstate buyers looking to relocate to the Gold Coast &ndash; most likely due to the pandemic, as Queensland has remained largely unaffected.&rdquo;

Cambridge Residences have seen over 50 apartments sell in the last five months, as demand for apartments on the Gold Coast continues to surge to record highs.

Investor buyers have benefited from strong rental returns at Cambridge Residences


SPG Land Australia secure 50% sales at Robina's Brooke Residences

<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

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The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

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Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

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Smith by Valli delivers a refined collection of luxury residences to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

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Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

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Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

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The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

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Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

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The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

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Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

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The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

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MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

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It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

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Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

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Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

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Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

Joel Robinson

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